Robinsons Land Corp. · PSE:RLC
Robinsons Land — 9M CY2022 Earnings Presentation
49 slides from Robinsons Land's earnings presentation, 2022
Slide 1: Investor Full-Deck Presentation 9M CY2022
Investor Full-Deck Presentation 9M CY2022 Robinsons
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of Robinsons Land Corporation (RLC). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause
Slide 3: Outline
OUTLINE 1. COMPANY PROFILE 2. DIGITAL AND OTHER INITIATIVES 3. 9M CY2022 FINANCIAL PERFORMANCE HIGHLIGHTS 4. INVESTMENT CONSIDERATIONS 5. 2021 SUSTAINABILITY REPORT 6. APPENDIX Contact Us: Investor Relations +63 2 8397 0334 investor.relations@robinsonsland.com
Slide 4: Shareholdings Structure
SHAREHOLDINGS STRUCTURE Market Capitalization: US$5.12 bn Ecosystem Plays Stake: Stake: INFRASTRUCTURE 56% 12.1% Market Cap: US$4.27 Bn Stake: 60.0% Market Cap: US$5.53 Bn Attributable Market Cap: US$2.38 Bn Attributable Market Cap: US$0.667 Bn Stake: 33.0% Stake: Stake: TECHNOLOGY 61.0% 26% Market
Slide 5: History & Milestones
2020 HISTORY & MILESTONES Successful Bond Issuance with credit rating of triple PRS Aaa from Philrating amounted to PHP13 Bn. Accelerated flexible space business w/ 3 more sites opened. 2021 2016 RLC launched digital initiatives for its 53rd RP Mall in La Union was 2010-2014 Formed Industrial and In
Slide 6: Business Portfolio as of 3Q 2022
BUSINESS PORTFOLIO as of 3Q 2022 52 Lifestyle Centers 85 Residential Buildings 39 Housing Subdivisions 29 Office Developments (from 28 as of end 1H CY2022) 28 Mixed-Use Developments 24 Hotels and Resorts 8 work.able Centers (from 6 as of end 1H CY2022) 7 Industrial Facilities
Slide 7: Operational Performance Highlights 9M CY2022
9M CY2022 OPERATIONAL PERFORMANCE HIGHLIGHTS 7
Slide 8: Robinsons Malls
ROBINSONS MALLS 2nd largest mall operator in the Philippines REVENUES (Php Mn) RENTAL REVENUES (Php Mn) with 52 malls nationwide, 8 within Metro Manila and 44 in other urban areas +54% +70% 1.57 Mn sqm in Gross Leasable Area 3.0 Mn sqm in Gross Floor Area 9,251 6,308 5,997 91% total leased p
Slide 9: New Mall
NEW MALL Robinsons Place Antipolo Expansion Location: Antipolo City Launch Date: May 28, 2022 Gross Leasable Area: 20,810 sqm 9
Slide 10: Robinsons Malls Future Expansion
ROBINSONS MALLS FUTURE EXPANSION +5% +4% +1% 1,669 GLA (thousand sqm) 1,577 1,591 1,520 CY2020 CY2021 CY2022 CY2023 •Tacloban Rehab Ph. 1 & 2 •Antipolo Expansion •Opus •Dumaguete Exp. Ph. 1 •RP Gapan •RP Pagadian •RP La Union •Less RP Forum 10
Slide 11: Robinsons Offices
ROBINSONS OFFICES REVENUES (Php Mn) EBITDA (Php Mn) A leading IT-BPM office space provider with 707,000 sqm net leasable space +12% +15% 92% leased percentage across 29 office 1,124 developments 865 4,723 5,278 4,625 4,035 8 work.able centers Dominant office landlord in the Ortigas Central 9
Slide 12: 9M CY2022 New Office Building
9M CY2022 NEW OFFICE BUILDING Cybergate Galleria Cebu Location: Cebu City Completed Date: September 2022 Size in GLA: 19,500 sqm 12
Slide 13: 9M CY2022 New work.able Center
9M CY2022 NEW WORK.ABLE CENTER work.able center in Cyber Omega 13
Slide 14: 9M CY2022 New work.able Center
9M CY2022 NEW WORK.ABLE CENTER work.able center in Giga 14
Slide 15: Robinsons Offices Future Expansion
ROBINSONS OFFICES FUTURE EXPANSION +7% +8% 793 +12% NLA (thousand sqm) 741 688 613 CY2020 CY2021 CY2022 CY2023 •Delta Tower 2 •Cyber Omega •Cybergate Galleria Cebu •GBF 1 •Luisita 3 •Cybergate Iloilo 1 •Cybergate Bacolod 2 •Bridgetowne East •Cybergate Iloilo 2 Campus One 15
Slide 16: Robinsons Hotels and Resorts
ROBINSONS HOTELS AND RESORTS Largest hotel developer and operator in the country in terms of number of hotel properties Multi-branded, continuously expanding hotel REVENUES (Php Mn) EBITDA (Php Mn) portfolio spanning 4 segments – essential service value hotels, mid-market boutique city and resor
Slide 17: 9M CY2022 New Hotels
9M CY2022 NEW HOTELS Go Hotels Plus Naga and Summit Hotel Naga Go Hotels Plus Tuguegarao Location: Naga City Location: Tuguegarao, Cagayan Valley Launch Date: Jan. 2022 Launch Date: Mar. 2022 No. of Rooms Opened (GH): 68 (as of June 30, 2022) No. of Rooms Opened: 75 (as of June 30, 2022) No. of Room
Slide 18: Hotels and Resorts Division Future Expansion
HOTELS AND RESORTS DIVISION FUTURE EXPANSION +23% 4,415 +11% +1% 3,588 3,188 3,230 No. of Hotel rooms -Dusit Thani Mactan Cebu -GoH Naga *5 GoH -Goh Tuguegarao Franchises -Summit Naga -Summit Greenhills CY2020 CY2021 CY2022 CY2023 •Dusit Thani • Grand Summit Gen San •Summit Naga •NUSTAR Hotel (remai
Slide 19: Residential Division
RESIDENTIAL DIVISION NET SALES TAKE-UP (Php Mn) REALIZED REVENUES (Php Mn) +33% 10,526 +8% 1,232 +62% 7,925 1,463 9,293 6,931 5,816 6,311 6,462 4,278 9M CY21 9M CY22 9M CY21 9M CY22 9M CY21 9M CY22 Joint Ventures EBITDA (Php Mn) EBIT (Php Mn) +11% +11% 2,085 2,311 2,147 2,389 9M CY21 9M CY22 9M CY21
Slide 20: 9M CY2022 New Residential Projects
9M CY2022 NEW RESIDENTIAL PROJECTS AmiSa Private Sierra Valley Gardens – Bldg. 3 Residences Tower D (SVG 3) Woodsville Crest – Pine Bldg. Location: Lapu-Lapu City, Cebu Location: Cainta, Rizal Location: Paranaque City Launch Date: Feb. 2022 Launch Date: Mar. 2022 Launch Date: Mar. 2022 No. of Units:
Slide 21: Joint Venture Projects
JOINT VENTURE PROJECTS Aurelia Velaris Sonora Location: McKinley, Bonifacio Global City Location: Pasig City Location: Las Pinas City Launch Date: Sep. 2019 Launch Date: Nov. 2019 Launch Date: Dec. 2019 No. of Units: 285 No. of Units: 457 No. of Units: 867 Sales Value: Php 33.06 Bn Sales Value: Php
Slide 22: Robinsons Logistics and Industrial Facilities
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES One of the leading industrial facility providers in REVENUES (Php Mn) EBITDA (Php Mn) the country with a total GLA of 167,000 sqm +104% 59 +89% 7 industrial facilities all across Luzon 406 346 199 183 9M CY21 9M CY22 9M CY21 9M CY22 EBIT (Php Mn) +89
Slide 23: Robinsons Integrated Developments
ROBINSONS INTEGRATED DEVELOPMENTS Montclair completed interchange exit near Clark Freeport Zone EBITDA (Php Mn) Latest residential project (SVG 3) launched in REVENUES (Php Mn) Sierra Valley Estate; All retail spaces therein are fully leased out. Land development of the east portion of 2,875 -
Slide 24: Logistics and Industrial Facilities Future Expansion
ROBINSONS LOGISTICS AND INDUSTRIAL FACILITIES FUTURE EXPANSION +36% 227 +78% +0% GLA (thousands sqm) 167 167 93 CY2020 CY2021 CY2022 CY2023 •RLX Calamba 1B •RLX Sucat 2 •RLX Calamba 2A •RLX Sierra •RLX San Fernando •RLX Calamba 2B •RLX Mexico •RLX Sierra 2 24
Slide 25: Chengdu Ban Bian Jie Project
CHENGDU BAN BIAN JIE PROJECT Residential condominiums and townhouses are 100% sold Total Project is 96% sold REVENUES (Php Mn) EBITDA (Php Mn) Phase 2 is 100% complete +21% US$224.5 Mn or 99.8% of capital invested has been repatriated +69% US$24 Mn cash dividends have been paid 12,682 10,5
Slide 26: Capital Expenditures
CAPITAL EXPENDITURES Capital Expenditure Program for Philippine Operations remains in line with overall corporate strategy ₱ 25,398 ₱ 24,816 ₱ 23,376 ₱ 22,507 ₱ 22,151 ₱ 19,722 11,238 10,658 12,700 9,704 13,245 7,731 5,086 3,251 3,694 3,888 6,168 Investment Capex 3,528 Development Capex 9,467 9,074
Slide 27: Landbank
LANDBANK RLC will continue to be on the lookout for strategic land bank across the country Area Value Location (Has.) (Php Bn) Destination Estates 236 87.4 1. Bridgetowne 19 67.7 2. Sierra Valley 12 9.4 3. Montclair 205 10.3 Metro Manila 4 6.7 Luzon 295 14.8 Visayas 131 14.9 Mindanao 145 6.2 TOTAL 8
Slide 28: Investment Considerations
INVESTMENT CONSIDERATIONS 1 Diversified Business Model and Earnings Base 2 Favorable Industry Dynamics 3 Stable Cash Flows Anchored by Recurring Income and Revenue 4 Sound and Healthy Financial Position 5 Strong Management Team 28
Slide 29: Diversified Business Model and Earnings Base
DIVERSIFIED BUSINESS MODEL AND EARNINGS BASE MALLS INVESTMENT PORTFOLIO 9M CY2021 9M CY2022 Revenue Contribution 38% 46% OFFICES EBITDA Contribution 61% 69% EBIT Contribution 43% 58% Exxa and Zeta Towers Cyber Sigma Cybergate Delta One HOTELS DEVELOPMENT PORTFOLIO 9M CY2021 9M CY2022 Revenue RESIDEN
Slide 30: A Leading Philippine Property Company
A LEADING PHILIPPINE PROPERTY COMPANY • Mall •Office •Residential Projects RLC is a leading Philippine property company, with broad geographical presence in Metro Ilocos Norte • Mall Cagayan • Hotel Manila, Luzon, Visayas and Mindanao, for all business divisions • Mall • Mall •Mall La Union Isabela
Slide 31: Favorable Industry Dynamics
FAVORABLE INDUSTRY DYNAMICS GDP GROWTH RATE OFW REMITTANCES (in US$B) 6.7% 6.2% 5.9% 5.6% $32.2 $33.5 $33.2 $34.9 $28.1 2017 2018 2019 2020 2021 -9.5% 2017 2018 2019 2020 2021 BPO REVENUES (in US$B) TOURIST ARRIVALS (in millions) $26.3 $26.6 $29.5 $22.9 $23.0 $24.8 8.3 6.6 7.1 1.3 1.9 0.2 2016 2017
Slide 32: Diversified Business Model Provides Resilient Cash Flow
DIVERSIFIED BUSINESS MODEL PROVIDES RESILIENT CASH FLOW REVENUES (in Php Bn) EBITDA (in Php Bn) +16% 36.54 35.77 33.87 30.96 28.03 45% 17.25 +19% 46% Investment 38% 14.96 14.22 Portfolio 13.68 72% +39% YoY 11.92 Investment 56% Portfolio Development 82% 68% 69% +37% YoY Portfolio 70% 61% 55% 62% 54%
Slide 33: Solid and Healthy Financial Position
SOLID AND HEALTHY FINANCIAL POSITION TOTAL ASSETS SHAREHOLDERS’ EQUITY (in Php Bn) (in Php Bn) 227.9 130.3 132.9 220.7 215.2 102.7 CY2020 CY2021 9M CY2022 CY2020 CY2021 9M CY2022 NET DEBT TO EQUITY EARNINGS PER SHARE 39% ₱1.55 31% ₱1.32 ₱1.01 23% CY2020 CY2021 9M CY2022 CY2020 CY2021 9M CY2022 33
Slide 34: Strong Business Performance and Sound Financial Position
STRONG BUSINESS PERFORMANCE AND SOUND FINANCIAL POSITION LONG TERM DEBT MATURITY (in Php B) 12.76 9.00 6.44 6.00 6.00 4.94 4.48 Loans Bonds 1.36 0.43 2023 2023 2024 2025 2025 2025 2025 2027 2027 Rate Principal Amount Tenor Maturity (fixed) (in Php B) Loans Three years August 2023 3.8900% 4.94 Seven
Slide 35: Strong Management Team
STRONG MANAGEMENT TEAM Board of Directors and Selected Corporate Officers Kerwin Max S. Tan James L. Go Lance Y. Gokongwei Frederick D. Go Faraday D. Go Chief Financial, Risk and Chairman Emeritus Chairman President and CEO Executive Vice President Compliance Officer 42 years with RLC 33 years with
Slide 36: CY2021 Cash Dividend
CY2021 CASH DIVIDEND RLC continues to pay dividends in line with dividend policy, of at least 20% of recurring net income of preceding year and higher than pre-COVID levels 0.60 31% 32% 30% 0.50 0.50 0.50 0.50 0.40 24% 25% CY2021 Payout Dividend share Php0.50 (in Php) 0.36 0.36 0.30 25% Declaration
Slide 37: ESG Initiatives
9M CY2022 ESG INITIATIVES RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 38: ESG Initiatives
ESG INITIATIVES Responsible growth, reaching underserved markets, reshaping communities and creating value for stakeholders Environment Social Governance Solar Energy 24 Malls with Solar Power Robinsons Land Foundation , Inc Independent Directors Head Key Board Committees Giga Tower Office Building:
Slide 39: Environment Initiatives
= < - = Ww = 2 2) = > yd Ww ROBINSONS PLACE PALAWAN PARTICIPATES IN LGU'S CLEAN-UP DRIVE RHomes CDO Plants 100 Trees RP ORMOC PARTICIPATES IN LGU'S CLEAN-UP RP SANTIAGO DONATES & PLANTS BAMBOO SAPLINGS IN DRIVE COOPERATION WITH CENRO RP TUGUEGARAO PARTICIPATES iN RP TACLOBAN JOINS LGU'S CLEAN-UP DRI
Slide 40: Social Initiatives
GC SUPPORTS UNIVERSITY OF SAN JOSE RECOLETOS'S RHR's Tie-Up With PWD MSMES FOOD FOR THOUGHT ul 1 Sry SY RP ROXAS DONATES TO BUREAU OF FIRE ‘& PROTECTION (BFP) ROXAS, CAPIZ id ; see Roxas : Tal = \ i satiny Pineda Elementary School Pasig BRIGADA ESKWELA RP La Union Turns Over COvID Vaccines. Donation
Slide 41: RLC Awards
RLC AWARDS Developer of the Year Best Developer (Luzon) Special Recognition in ESG Best Township Development Best Township Masterplan Design Best Industrial Development Best Lifestyle Development & Best Health & Wellness Dev’t Best Co-Working Space & Best Office Interior Design Bes
Slide 42: Thank You!
THANK YOU! RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 43: Appendix
APPENDIX RLC IR Team, (+632) 83970334 investor.relations@robinsonsland.com
Slide 44: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS All BU’s registered positive in EBITDA REVENUE EBITDA EBIT % to % to % to (IN PHP MN) 9M CY2022 YoY 9M CY2022 YoY 9M CY2022 YoY RLC RLC RLC TOTAL RLC 35,766 100% +16% 14,221 100% +19% 10,251 100% +26% MALLS 9,251 26% +54% 4,736 33% +67% 2,023 20% +1,205% OFFIC
Slide 45: Per BU Financial Performance Highlights
PER BU FINANCIAL PERFORMANCE HIGHLIGHTS All BU’s registered double-digit positive growth in EBIT REVENUE EBITDA EBIT (In PhP Mn) 3Q CY2022 3Q CY2021 YoY 3Q CY2022 3Q CY2021 YoY 3Q CY2022 3Q CY2021 YoY TOTAL RLC 8,271 4,913 +68% 4,527 2,707 +67% 3,169 1,424 +122% MALLS 3,536 1,814 +95% 1,812 831 +118
Slide 46: Commercial Centers Division
COMMERCIAL CENTERS DIVISION REVENUES (in Php B) GLA (in millions sqm) 5-year CAGR: -6% 5-year CAGR: +4% 16.352 11.940 10.789 1.573 1.520 1.600 8.486 1.389 1.502 8.253 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: -14% 5-year CAGR: -53% 5.170 3.997 4
Slide 47: Office Buildings Division
OFFICE BUILDINGS DIVISION REVENUES (in Php B) NLA (in thousands sqm) 5-year CAGR: +19% 5-year CAGR: +14% 613 688 592 5.937 6.485 523 5.494 405 4.293 3.268 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php B) EBIT (in Php B) 5-year CAGR: +18% 5-year CAGR: +20% 4.727 4.180 5.662 3.725 5
Slide 48: Hotels & Resorts Division
HOTELS & RESORTS DIVISION REVENUES (in Php B) No. of Hotel Rooms 5-year CAGR: -11% 5-year CAGR: +6% 3,129 3,188 3,230 2.433 2,736 1.893 1.982 2,516 1.083 1.202 CY17 CY18 CY19 CY20 CY21 CY17 CY18 CY19 CY20 CY21 EBITDA (in Php M) EBIT (in Php M) 5-year CAGR: -24 5-year CAGR: N/A 724 673 702 542 425 34
Slide 49: 9M CY2022 Full Presentation
FUTURE PLANS 9M CY2022 Full Presentation 49